FourFour2’s Nick D’Agostino has the latest on the retailer’s latest report, which shows its overall sales were down 14 per cent to $2.05 billion.
He says the company is trying to sell the business as “a whole” and says it is doing so by focusing on its core products.
“There’s no magic number.
You just have to look at what’s in front of you and try and figure out what’s going to make you money, what’s gonna give you the greatest bang for your buck and you’ll be happy with that,” he said.
Supplier’s shares have dropped by about a third since its mid-2014 high of $2,000, but are still up by more than 20 per cent on the year.
The company also announced it had sold a record 6,000 iPads, which was more than double its goal of 5,000.
Mr D’Agnostino says the iPad sales growth was a sign the company was on the right track, but that it is not enough to break even and that the sales figures are still not reflective of the real state of the business.
Read more about Supplier: In the past four months, the company has seen its stock fall by more of 3 per cent and it has lost almost $100 million in value.
It said the loss was partly due to its financial woes, but also to the challenges in developing its e-commerce business.
The company said its loss was driven by higher costs for marketing, advertising and support services and lower sales from its core business.
It also reported lower profits in its online-store business due to lower sales of its products, but Mr D’Alto said it was a good start for the company.
This is what it means for your business:Supplier is one of the fastest-growing retailers in Australia and is growing by more sales than any other Australian retailer.